VA Increases Many Home Loan Ceilings

Ceilings on no-down payment home loans for veterans will increase from its present level, $417,000, to as much as $729,000, depending upon where applicants live, the Department of Veterans Affairs announced. Also, veterans or active-duty service members with certain service-connected disabilities can now apply for primary grants of $60,000, to use either for construction of a new home or adaptation of a present home to accommodate their special needs. The changes are part of the Housing and Economic Recovery Act of 2008, which President Bush recently signed into law. More information is available by calling (877) 827-3702, or visiting www.homeloans.va.gov on the Web.